Yale University, considered among the best American varsities, is a private Ivy League research and is one of the dream colleges for high school students. It is located in Haven, in the district of Connecticut. Its foundation stone was laid in 1701 in Saybrook Colony as the Collegiate School. In the list of oldest universities in United States, it holds the number three rank. It was renamed as Yale only in 1718 to acknowledge the gift from Elihu Yale who was the governor of the British East India Company. Initially, the varsity was used to train the Congregationalist ministers in theology and sacred languages, but later on in 1777, the curriculum added humanities and sciences. In nineteenth century, it gradually added graduate and professional instruction and awarded the first PhD in 1861 in USA and was organized as a university in 1887. Like Harvard, it is also organized into 12 constituent schools which deal in various disciplines. The university is the owner of various athletic facilities and has many forest and nature reserves throughout New England. The assets itself is valued at a whopping 23.9 million dollars as per the records of September 14, 2014 and this make the Yale University the second largest institution in the world in terms of assets. The undergraduates in Yale follow a liberal arts curriculum with majors in various departments and organized into a system of residential colleges. It has the third largest library in the world because it has fifteen million volumes.